Anterix Inc. (NASDAQ:ATEX) Stock Has Consensus Price Target of $120.00 According to Brokerages

Shares of Anterix Inc. (NASDAQ:ATEX) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $120.00.

A number of research analysts have commented on the company. Weiss Ratings cut Anterix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, October 26th. Wall Street Zen cut Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. DA Davidson set a $161.00 price objective on shares of Anterix in a report on Friday, August 21st. Clear Str raised shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. reduced their price objective on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th.

Anterix Price Performance

Shares of Anterix stock opened at $74.36 on Friday. Anterix has a 1 year low of $17.58 and a 1 year high of $113.00. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 21.25 and a beta of 0.87. The company has a 50-day moving average of $82.10 and a 200 day moving average of $66.42.

Anterix (NASDAQ:ATEX) last announced its earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.44. The company had revenue of $1.96 million for the quarter, compared to analysts’ expectations of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. On average, equities analysts anticipate that Anterix will post -2.00 EPS for the current year.

Insider Transactions at Anterix

In other news, CEO Scott Lang sold 15,000 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $80.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief executive officer owned 26,470 shares of the company’s stock, valued at $2,117,600. The trade was a 36.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Elena Marquez sold 4,981 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.43, for a total transaction of $400,621.83. Following the sale, the chief financial officer directly owned 12,604 shares in the company, valued at $1,013,739.72. This represents a 28.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 124,841 shares of company stock worth $10,975,765. 40.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Anterix

Hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new stake in Anterix during the 2nd quarter valued at approximately $35,000. State of Wyoming acquired a new stake in shares of Anterix during the 3rd quarter worth about $27,000. Sterling Capital Management LLC raised its position in Anterix by 850.0% during the third quarter. Sterling Capital Management LLC now owns 380 shares of the company’s stock valued at $30,000 after purchasing an additional 340 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Anterix by 63.7% in the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after buying an additional 363 shares during the period. Finally, Fifth Third Bancorp acquired a new position in Anterix during the first quarter worth $64,000. 87.67% of the stock is owned by hedge funds and other institutional investors.

Anterix Company Profile

Anterix Inc (NASDAQ: ATEX) develops and provides private wireless broadband solutions for critical infrastructure industries. The company’s primary focus is enabling electric, gas, water and other utilities to deploy secure, resilient communications networks that support operational technology, grid modernization and other mission-critical applications.

Anterix primarily uses its licensed 900 MHz spectrum holdings to support private broadband networks. Its offerings include spectrum access and related wireless communications solutions designed to help utilities connect field equipment, sensors, control systems and mobile workforces.